NDF - Financing for climate change and development projects

Milestones

1988
Denmark, Finland, Iceland, Norway and Sweden sign an agreement regarding the establishment of NDF.

1989
NDF begins its operations providing soft loans for social and economic development.

1991
NDF has a credit stock of EUR 4 million.

1994 
NDF’s credit stock amounts to EUR 60 million.
 
1995 
NDF signs its first private sector loan agreement.
 
2000 
NDF’s credit stock amounts to EUR 360 million.
 
2005 
NDF’s member countries do not succeed in reaching an agreement on a fifth capital replenishment for the Fund and thus the Nordic Development Cooperation Ministers recommend a wind-up of NDF. 
 
2008 
NDF’s credit stock stands at EUR 691 million.
 
2009 
Analyses show that there are valid reasons for NDF to continue its activities and the member countries approve of a new mandate, securing continued operations. NDF shifts focus from soft loans for social and economic development to grants for climate change interventions. NDF Board makes its first grant decisions under the new mandate.

2010
During the first 18 months of operation under its new mandate NDF allocates EUR 75 million to 22 new project grants for climate change interventions.

2012
An external evaluation of NDF’s progress under the climate mandate confirms positive results and is encouraging in showing that the reforms done at NDF have paid off.

2014
NDF’s 25th Anniversary and two NDF-financed projects receive international recognition.

2015
Four NDF-backed projects receive UNFCCC’s Momentum for Change Lighthouse Award.

2016
NDF starts to utilise a greater variety of financial instruments, providing equity and loans for selected new projects, in addition to grants.
 

2017
NDF starts to place its liquid assets into green bonds.

2018
NDF’s project portfolio consists of 113 completed or ongoing projects related to climate change in 16 countries across Africa, Asia and Latin America. Total of climate change financing by NDF is EUR 375 million.